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Property News

Last weekend busy for Sydney auctions

April 03, 2012

The week before Easter is traditionally one of the biggest auction events on the Sydney calendar, according to the Real Estate Institute of New South Wales, but next weekend will be" comparatively quiet".

Figures published on Sunday (April 1) for the week ending March 31 indicate that there are a total of 1,200 properties scheduled to be auctioned across NSW this week.

The total volume of properties on the auction block last week was $353 million, with 821 auctions reported.

The REINSW recorded a clearance rate of 59 per cent, with 485 homes recorded sold and 336 passed in.

However, the following week will be relatively slow in comparison, according to REINSW chief executive Tim McKibbin, who anticipated only 25 auctions on Saturday and 220 auctions scheduled during the week.

With sunny weather forecast for much of the Easter long weekend, Sydneysiders might be thinking about residential property that enables them to make the most of an active city lifestyle.

Earlier this year, the City of Sydney announced the latest design plans for an extension of the Kent Street separated cycleway, which would expand it from Druitt Street to Liverpool Street, connecting riders with the inner west and Sydney Harbour.

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